(KAIT) - Arkansas voters will decide whether the cap on state-issued bonds will be removed.
Issue 3 will appear on the ballot Nov. 8.
Currently, Amendment 82 of the Arkansas Constitution allows the state to issue bonds for economic development. However, the state is limited to 5 percent of the general revenue collected during a fiscal year.
Issue 3 on the 2016 November ballot seeks to remove that limit.
Official Ballot Title:
"An Amendment to the Arkansas Constitution Concerning Job Creation, Job Expansion, and Economic Development."
What Does Your Vote Mean?
Voting "yes" on Issue 3 means you support the proposal to remove the cap on the amount of bonds the state is allowed to issue for economic development.
Voting "no" on Issue 3 means you want to keep the state's ban on bonds that exceed 5 percent of annual state revenue.
Information pulled from Ballotpedia.org. For more information, click here.
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